We declare that there is no special event that has not been disclosed to the public regarding the recent price performance of our company stock.
Our Incorporation discloses monthly traffic figures in order to provide transparent view of our operational performance. Our latest traffic disclosure regarding the first quarter highlights 10,3% increase in pax figures against a 19,1% increase in ASK capacity and 2,9 pts decline in load factors resulting from the negative geopolitic environment and direct traffic decline.
The analist reports issued by investments banks are independent research reports that totally reflect their own views, expectations and calculations. They do not reflect the views of our management. Our Incorporation still holds its guidance of 20-22% EBITDAR margin target for the year 2016.
On the other hand, the General Assembly has authorised our Board of Directors to start or end the Share Buyback Program considering the company's investment and cash position and the market conditions within a three year period. Should there be any decision to start buying shares additional disclosures will be made accordingly.